Texas Teacher Retirement System, Austin, committed a total of $504 million to seven alternative investment funds run by five managers in February, a monthly transaction report showed.
The largest aggregate commitment from the $179.3 billion fund — $425 million — went to the system's energy, natural resources infrastructure portfolio.
Investment officers of teachers' fund committed a total $275 million to three related funds managed by Quantum Energy Partners, a new manager for TRS.
The largest commitment was $150 million for investment in Quantum Energy Partners VIII, an oil and gas focused fund, while $100 million was committed to QEP VIII Co-Invest (1) and $25 million was committed to Quantum Energy Partners VIII Co-Investment Fund.
Existing manager NGP Energy Capital Management received a commitment of $150 million to NGP Natural Resources XIII, an energy-focused fund.
A total of $79 million was committed to three private equity firms with the largest commitment — $45 million — to Project CS Co-Invest Fund, a buyout fund managed by Thoma Bravo, an existing manager.
Existing manager Greenbriar Equity Group was awarded a $24 million commitment for investment in buyout fund Greenbriar Co-Investment WPS.
A new manager for TRS — Galaxy Digital Capital Management — received a commitment of $10 million for investment in venture fund Galaxy Interactive Fund II.
TRS did not provide information about the size of the system's energy natural resources infrastructure portfolio and its private equity portfolio or the percentage of their assets as part of the system's asset allocation in materials for the fund's most recent board meeting on Feb. 16-17.
